Yes, you can withdraw from your FHSA at any time, subject to withholding tax. The amount withdrawn will be added to your taxable income for the year. FHSA contribution room is not reinstated.
Articles in this section
- What is an FHSA?
- Who can open an FHSA?
- What is the Annual Administration Fee for a FHSA?
- How does an FHSA work?
- How do I make a contribution to my FHSA?
- When are contributions tax deductible?
- Can I transfer funds from my RRSP to an FHSA?
- What is a qualifying withdrawal?
- Do I have to repay withdrawn amounts to my FHSA?
- Can I use the FHSA and Home Buyers’ Plan at the same time?